Ineos to cut a fifth of Hull jobs, blaming ‘dirt-cheap’ imports from China

Company says more roles will be at risk unless UK government supports tariffs to protect industry

Ineos, the chemicals company owned by the billionaire Sir Jim Ratcliffe, is to cut a fifth of jobs at its East Yorkshire plant, blaming “sky high” energy costs and “dirt-cheap” imports from China.

The company founded in 1998 by Ratcliffe, who co-owns Manchester United FC, said it would cut 60 jobs at the Acetyls site in Hull, which makes petrochemical products such as acetic acid. It said more roles would be at risk across the industry unless the government stepped in.

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Australia Post releases footage of posties being hit by cars as it urges drivers to ‘keep an eye out’

More than 280 delivery workers injured in traffic collisions over past year, suffering everything from broken limbs to lacerations

At least five posties are injured each week on Australia’s roads, according to data released by Australia Post as the service published video of collisions and urged motorists to “keep an eye out”.

More than 280 posties sustained broken limbs, concussions or serious trauma from third-party road crashes in the past financial year.

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France is in crisis but bond markets leave other governments at risk of meltdown too

Investors rattled by resignation of French PM but country is not alone in trying to grapple with political maths

Sébastien Lecornu’s abrupt resignation as the French prime minister on Monday after less than a month in the role marked the latest clash between France’s stretched public finances and its polarised politics.

Lecornu was the latest prime minister to try and fail to cobble together a package of spending cuts and tax rises that would pass muster in a parliament without a clear majority, and contain mounting bond market pressures.

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‘First job bonus’ worth £5k planned for young people, Stride tells Tory conference – UK politics live

Shadow chancellor sets out spending plans as party conference continues in Manchester

Mel Stride, the shadow chancellor, was doing an interview round for the Conservatives this morning, and Miatta Fahnbulleh, the faith and communities minister, was on the air on behalf of the government. They were both asked about the latest development in the flag phenomenon – the former footballer turned property developer Gary Neville saying that he took down a union flag flying at one of his building sites because he felt it was being used in a “negative fashion”.

Asked if Neville (a Labour supporter) had a point, Fahnbulleh told ITV’s Good Morning Britain:

I think he’s really right, that there are people who are trying to divide us at the moment …

I spent a lot of time going around our communities, talking to people. People are ground down. We’ve had a decade-and-a-half in which living standards haven’t budged and people have seen their communities held down. And you will get people trying to stoke division, trying to blame others, trying to stoke tension.

I think people that put up flags, the vast majority of people that do, do so for perfectly reasonable patriotic reasons. And I think reclaiming our flag as a flag of unity and decency and tolerance, which is the way most people see our flag, is a very positive thing.

So I’m afraid I really cannot agree with the comments that he’s made.

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He-Man poised to be next retro name to join UK toy ‘newstalgia’ trend

Films of old favourites help lift toy sales 8% this year, with 2026 Masters of the Universe movie tipped for similar

A wave of “newstalgia” has fuelled a step up in growth of UK toy sales, with the muscle-bound 80s hero He-Man the latest retro name tipped for a revival thanks to the big screen.

After falling almost 4% in 2024, UK toy sales are up 8% so far this year, buoyed up by the Minecraft and Lilo & Stitch films as well as parents rebuying toys they once owned as children such as Care Bears and Teenage Mutant Ninja Turtles, according to new data.

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Nearly a third of bosses report increase in cyber-attacks on their supply chains

CIPS survey shows cyber threats have risen up the list of concerns for procurement managers

Almost a third of bosses have reported an increase in cyber-attacks on their supply chains over the past six months, as the fallout from devastating hacks on corporate stalwarts including Jaguar Land Rover highlighted a growing threat to businesses.

Cyber threats have risen up the list of concerns for procurement managers at hundreds of companies worldwide across industries including manufacturing, energy and technology, according to a survey conducted in September by industry body the Chartered Institute of Procurement and Supply (Cips).

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Tories say people denied benefits in UK can return to home countries

Mel Stride outlines plans to slash £47bn a year from public spending, including £23bn welfare cut

Overseas nationals denied benefits under a Conservative plan to limit social security to UK citizens would have the option to return to their own countries, the shadow chancellor, Mel Stride, has said.

Before his speech to the Conservative conference on Monday, Stride set out Tory proposals to cut £47bn a year from public spending, with the biggest chunk, £23bn coming from reductions in welfare.

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UK ministers aim to speed up homebuying by four weeks

Proposed government overhaul of house purchase process looks at shifting some costs from buyers to sellers

Ministers are attempting to cut the time it takes to buy a home by four weeks under new proposals aimed at overhauling the housebuying process.

The UK government will also consult on plans to shift costs from buyers to sellers, including compelling sellers and estate agents to provide buyers with vital information – such as the condition of the home and the scale of any leasehold costs – upfront.

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Richard Desmond legal action over National Lottery award to begin at high court

Billionaire suing Gambling Commission for up to £1.3bn over licence award, with payout potentially funded by the taxpayer

The media billionaire Richard Desmond will begin a bitter courtroom battle with the Gambling Commission this week that could cost taxpayers hundreds of millions of pounds in a row over the licence to run the National Lottery.

Northern & Shell and The New Lottery Company (TNLC), owned by Desmond, are suing the gambling regulator for up to £1.3bn, alleging “manifest errors” in the labyrinthine competition process for Britain’s largest public sector contract, the lottery licence.

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Liberal frontbencher backs Hastie on immigration – as it happened

This blog is now closed.

James Paterson says Hastie move to backbench part of Liberals’ ‘debate and contest about ideas’

The sooner the Liberal party can sort out its differences the better but it may take a while after Andrew Hastie’s departure to the back bench, according to one of the rogue MP’s closest colleagues.

But we do have to make sure we go through our processes. We have to make sure we have those debates.

One of the reflections we’ve all had about the last parliamentary term is that there wasn’t enough debate and contest about ideas, that we need to robustly contest policy before we settle on it.

On the back bench, I’ll continue to advocate for things I believe in.

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Costco to sell weight-loss drugs such as Ozempic and Wegovy at half-price

The move comes as GLP-1 drug prices have soared as supply continues to be increasingly limited

Costco has struck an agreement with drugmaker Novo Nordisk to make anti-obesity GLP-1 medications such as Ozempic and Wegovy available to its members at roughly half the usual cost.

Through the store’s prescription program, members with a valid prescription can buy a four-week supply of the injectables for $499. The offer is available only to those paying out of pocket, since many insurers still do not cover these medications.

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Wetherspoon’s boss vows to keep price rises to a minimum as he criticises energy bills

Beefed-up packaging tax will triple pub chain’s costs from the levy to £2.4m a year, says Tim Martin

The boss of the pub chain Wetherspoon’s has vowed to keep price increases to a “minimum”, after blaming a beefed-up packaging tax and rising energy bills for extra costs.

Tim Martin said the recently introduced “extended producer responsibility” levy on packaging would lead to the company’s costs from the tax tripling from £800,000 to £2.4m a year.

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Captain of oil tanker linked to Russia’s ‘shadow fleet’ to face trial in France

Vladimir Putin denounces seizing of the vessel as an act of ‘piracy’ and warned it could provoke confrontation

The captain of an oil tanker that authorities in France have detained off the country’s Atlantic coast and that President Emmanuel Macron has linked to Russia will go on trial in February over the crew’s alleged refusal to cooperate, a French prosecutor has said.

Macron has alleged that the tanker belongs to Russia’s “shadow fleet” of ageing tankers of uncertain ownership that are avoiding western sanctions over Moscow’s war in Ukraine. He also did not rule out that it could have been involved in drone flights over Denmark as it was sailing last week off the coast of the Nordic country.

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Australia news live: retired admiral criticises Aukus deal; decision expected in NSW psychiatrists pay dispute

Peter Briggs says relying on overseas construction is ‘folly’; industrial relations commission to rule this morning on government’s stoush with doctors. Follow the latest news live

The former head of Australia’s submarine squadron has urged Australia against outsourcing boat construction overseas, as bureaucrats express confidence the US won’t scuttle Aukus, Australian Associated Press reports.

A parliamentary inquiry yesterday ran the rule over the Geelong treaty, a 50-year Aukus cooperation agreement between Australia and the UK signed in July.

There is no minimum protection in the treaty for a guaranteed work share for genuine Australian industry.

The Collins project has established a viable submarine supply chain within Australia.

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Government shutdown could cost US economy billions of dollars a week, analysts says

According to one report, each week of shutdown could cost up to $7bn, with another suggesting a $15bn loss in GDP

Senior officials inside Donald Trump’s administration have acknowledged the federal government shutdown, without an end in sight, could hurt the US economy. The damage could be worth billions of dollars each week, according to analysts.

“This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Scott Bessent, the US treasury secretary, told the CNBC financial news network. “We could see a hit to the GDP, a hit to growth and a hit to working America.”

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UK and EU poised to strike deal sparing British business from carbon border tax

Exclusive: Temporary deal to shield UK exporters from levy’s impact is now viewed by both sides as likely

The EU and Britain are poised to agree a deal sparing British businesses from a carbon border tax being introduced in 2026, with officials targeting late spring for the next EU-UK summit.

The EU is introducing a carbon border adjustment mechanism (CBAM) on 1 January targeting imports produced using carbon-intensive methods, such as steel, glass and fertiliser.

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Palestinian food brand says UK sales up 50% as shoppers show solidarity

Zaytoun’s olive oil and dates provide a tangible way to help Palestinians, says the business’s managing director

A Palestinian food brand says its UK sales increased by 50% to £3.2m in 2024 as shoppers seek out its olive oil in solidarity with Palestinians in Gaza and the West Bank.

Zaytoun, the Arabic word for olive or olive tree, is a social enterprise set up to support the resilience of Palestinian communities through fair trade.

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Perky Maxwell House viral ad takes on housing crisis as ‘Maxwell Apartment’

Historic US company also offering ‘12-month lease’ – an annual supply – of pre-ground coffee for under $40

Housing in the US has become so unaffordable that a coffee company has based a viral marketing campaign on the idea that almost nobody can afford to buy a house.

Maxwell House coffee, a 133-year-old brand, recently launched a marketing campaign rebranding themselves as “Maxwell Apartment Coffee”.

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Corporate ‘middlemen’ mask who really profits from Australian fossil fuel projects, report warns

Nominee companies – paid to be listed as shareholders on behalf of unnamed investors – could be reducing accountability over financial support of industry

Three global banks are being paid to obscure who profits from 51 fossil fuel projects in Australia that produce 22m tonnes of carbon emissions each year, according to new analysis.

An analyst who authored the report says it highlights a “massive problem” in Australia that could be reducing the amount of scrutiny investors face for financial support of the fossil fuel industry.

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Jaguar Land Rover parts makers asked by banks to put up homes as loan security after hack

Lobby group says urgent government intervention required as small suppliers on brink of collapse during shutdown

Small companies who supply parts used in Jaguar Land Rover cars have been asked by banks to put up their family homes as personal guarantees in order to access emergency loans, with no direct UK government support on offer for parts makers a month after the carmaker was hit by a crippling cyber-attack.

JLR, Britain’s biggest automotive employer, is considering making advance payments to top-tier suppliers as it tries to restart production after the hack, but smaller parts makers warn they are on the brink of collapse without urgent cash injections.

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